JAMB UTME - Economics - 1985
Pergunta 1 Relatório
By terms of trade, we mean the?
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Terms of trade (TOT) refers to the relative price of imports in terms of exports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
Pergunta 3 Relatório
Tax which is levied on goods manufactured, sold or used within a country is?
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Pergunta 5 Relatório
Under perfect competition, the long-run equilibrium requires?
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Pergunta 6 Relatório
Which of the following is NOT among the canons of taxation as set out by Adam Smith?
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Pergunta 7 Relatório
The argument of tariff protection in less developed economies is that such a measure would
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Pergunta 8 Relatório
The petro- chemical industries are located in the River State of Nigeria due to?
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Pergunta 9 Relatório
The act of combining factor inputs in order to obtain specific output is known as
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Pergunta 10 Relatório
One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?
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Pergunta 11 Relatório
If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to
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Pergunta 12 Relatório
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?
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Pergunta 15 Relatório
The age distribution of a population is NOT influenced by?
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Pergunta 16 Relatório
The interdependence between households and business enterprises illustrated in the figure is known as
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Pergunta 19 Relatório
A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?
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Pergunta 20 Relatório
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
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Pergunta 21 Relatório
The process by which a country attempts to reduce the import of manufactured goods at home is described as?
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Pergunta 23 Relatório
The inefficient distribution of scarce commodities in Nigeria is mostly due to the?
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Pergunta 24 Relatório
How many National Development Plans did Nigeria have between 1960 and 1984?
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Pergunta 26 Relatório
If monopoly is attempting to maximize profit which of the following should it attempt to do?
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Pergunta 27 Relatório
A firm is said to be a public Joint Stock Company when it?
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Pergunta 28 Relatório
Under normal circumstances a producer will bear the entire burden of taxation on his output if the?
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Pergunta 29 Relatório
Warehousing facilities in the distribution and marketing of products are provided by?
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Pergunta 30 Relatório
Which of the following is NOT a feature of underdevelopment?
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Pergunta 31 Relatório
In the figure above, the broken line labelled M is the marginal revenue curve of a
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Pergunta 32 Relatório
If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?
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Pergunta 33 Relatório
In the table, the marginal cost when output is two, units is
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Pergunta 34 Relatório
Which of the following is a necessary prerequisite for trade by barter?
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Pergunta 35 Relatório
Optimum population is desirable because it enables an economy to obtain maximum?
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Pergunta 36 Relatório
Which of the following is NOT a part of the fixed costs of a limited liability company?
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Pergunta 38 Relatório
The amount of labour a producer hires relative to labour factor inputs depends on the?
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Pergunta 41 Relatório
Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?
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Pergunta 42 Relatório
The table illustrates the law of diminishing returns on a farm. Which pair of the following answers is appropriate for the missing information in the spaces market X and Y?
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Pergunta 43 Relatório
Foreign exchange control in Nigeria is administered by the?
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Pergunta 44 Relatório
An example of a regressive tax is?
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Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.
Pergunta 46 Relatório
Study the figure above. At paint H the price elasticity of supply is
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Pergunta 47 Relatório
One of the functions of the commercial banks is that it is?
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Pergunta 50 Relatório
Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?
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